28,584 Shares in Schlumberger Limited (NYSE:SLB) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,584 shares of the oil and gas company's stock, valued at approximately $1,195,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Schlumberger in the 4th quarter worth about $735,398,000. Price T Rowe Associates Inc. MD increased its stake in shares of Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Lazard Asset Management LLC increased its stake in shares of Schlumberger by 3,112.1% in the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Deutsche Bank AG raised its holdings in shares of Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after buying an additional 2,646,653 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Down 0.6%

Shares of Schlumberger stock traded down $0.23 on Wednesday, reaching $35.85. 17,576,558 shares of the company were exchanged, compared to its average volume of 13,591,460. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The stock has a fifty day moving average price of $34.44 and a 200-day moving average price of $38.24. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.30 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Finally, Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.